San Isidro Buenos Aires Real Estate
New Construction Developes in Altos de San Isidro
The municipality of San Isidro is one of the highly coveted areas of Zona Norte (northern zone) in the Greater Buenos Aires area. Altos de San Isidro, a new sector within San Isidro, started to emerge in 2004, by 2007 it was a real estate boom, and it is projected to continue growing.
Altos de San Isidro lies within the area bordered by the streets Alsina, Jacinto Díaz, Avellaneda, Centenario, Haedo, the cemetery and Plaza Castiglia. This sector has been experiencing a great deal of new construction because it is one of the few areas with vacant lots still available and the price of land is less expensive than in other parts of San Isidro.
The majority of the new buildings constructed are three stories high. They have no living quarters for an onsite manager, which eliminates the costs of a manager’s salary and benefits, and therefore lowers homeowner association fees.
The greatest demand is for one and two bedrooms units with a garage. Many buyers prefer apartments with amenities, and close proximity to major avenues or freeways is also important.
Altos de San Isidro is especially sought after by young families as well as couples seeking to downsize after their grown children have left home. Many are young professionals who are working at their first job and rely on their parents’ financial assistance in order to make the investment. The relatively lower prices found in Altos de San Isidro, affords buyers, especially younger people, an opportunity to access a starter home in the prestigious Zona Norte.
Altos de San Isidro is easily accessible. Major avenues and freeways in the immediate vicinity quickly link the area to other communities north, south and west of San Isidro. Commuter train service is also close by, providing transportation to the city of Buenos Aires and to numerous communities further north.
Prices in Altos de San Isidro range from U$S 70,000 to U$S 100,000 for small units with one or two bedrooms. At present, over 150 projects are planned for development in San Isidro. Together with the neighboring municipality of Vicente Lopez, San Isidro is one of the two areas most sought after by investors.
San Isidro has a beautiful shoreline along the Río de la Plata and an island off its coast. Though the shoreline is already somewhat developed with fishing and nautical clubs, and a marina, some real estate analysts predict it will develop into an area similar to Puerto Madero.
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